Total value locked across crypto prediction markets topped $550M, a new high above the prior election-driven ATH (DeFiLlama). Polymarket is the largest by TVL (~$330M), followed by OPINION (~$155M) and Predict Fun (~$21.7M). Off-chain operator Kalshi led sector trading volumes with $2.2B in weekly notional volume and a daily record >$535.5M on Jan. 18; Polymarket ranked third in weekly volume (~$786M). Polymarket introduced taker-only fees, hit a daily revenue peak of ~$109,300 on Jan. 12, and generated ~ $550,000 in revenue over the past seven days (trailing OPINION’s ~ $1.5M). DeFiLlama estimates Kalshi earned over $263M in fees in 2025, largely from sports markets.

TVL reaching a new ATH (> $550M) and Polymarket’s dominant ~$330M TVL are bullish signals for the sector; large notional volumes at Kalshi ($2.2B weekly, $535.5M daily) indicate high activity. Polymarket’s fee change and visible daily revenue swings (peak ~$109.3k, 7-day ~$550k vs OPINION’s ~$1.5M) are concrete, near-term metrics traders can act on.